Duckback targets comeback with product diversification

Kolkata:

Duckback

— a brand that was synonymous with rainwear and schoolbags for generations — has made a comeback after a long lull. This time, it has diversified into stationery and apparels and aims to rake in at least Rs 65 crore in revenue this fiscal, up from the consolidated revenue of Rs 40-45 crore reported in the last financial year.

Troubled by surging rubber prices and labour unrest, the company — Bengal Waterproof — was in a shambles when its erstwhile chartered accountant OP Saxena took over in 2014. Saxena, who is now the chairman of Duckback Waterproof Works (the company’s new avatar) and its subsidiary Bihar Rubber Company, said, “The first thing we did was to settle and clear all liabilities amounting to around Rs 80 crore, and labour and staff dues worth around Rs 17 crore. We also settled most of the legal liabilities.”

The company then decided to decommission the manufacturing unit at Panihati, which had been shut since 2011, and invest Rs 10 crore on a new plant at Barasat. “We shall continue with the existing product lineup. Duckback has also boosted its luggage bag manufacturing capacity and aims Rs 10 crore worth of sales this fiscal,” Saxena said.

Duckback moved on to making notebooks for students starting with the northeastern market. “Northeast is the largest

notebook

consumer market, worth about Rs 600 crore. ITC is the leader there with about 20% market share. We hope to become the second-largest brand in the region by the next fiscal, capturing around 15% of the market.” The notebook manufacturing facility has been set up at Serampore.

Duckback has also started its men’s jeans and readymade formalwear venture in Ahmedabad, Gujarat. He also plans to diversify its footwear line with sports shoes, formal shoes and children’s shoes.

Speaking about the company’s retail presence, Saxena said, “Currently, we have around 30 exclusive outlets, which we plan to increase to at least 200 soon. Our primary focus is on re-establishing the Duckback brand. We shall be happy with fewer sales, but we shall not compromise on quality.”


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